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General => General Discussion => Topic started by: Stig / Major Tom on September 26, 2022, 11:03:02 AM

Title: NSR: $1.03 to the £ ?!!
Post by: Stig / Major Tom on September 26, 2022, 11:03:02 AM
Neil, is this the time for me to buy that Jaguar?!!
Quick with your advice.....as now the £ has climbed to a $1.07!

Stig
The last time I was in  England, in 1966, a £ was valued at $2.80.
Title: Re: NSR: $1.03 to the £ ?!!
Post by: Viper254 on September 26, 2022, 11:46:35 AM
Yep - great time to holiday in the UK - give it a couple days and your cash may even go a little further!
Title: Re: NSR: $1.03 to the £ ?!!
Post by: CROSSBOLT on September 26, 2022, 12:38:05 PM
This shows the USD inflation is picking up speed....
Title: Re: NSR: $1.03 to the £ ?!!
Post by: Neil955i on September 26, 2022, 08:02:16 PM
Yep the £ has tanked against the $ so get the Jag order in.

Seriously, I cannot see how the current UK Government Cabinet can believe this monetary policy is the best way out of the cost of living crisis. It’s nuts!  Give the very richest more money and it will trickle down? It’s for the birds.
Title: Re: NSR: $1.03 to the £ ?!!
Post by: Mancashire on September 27, 2022, 05:47:57 PM
The US has tried the tinkle down economic theory and it hasn’t really worked. Hopefully it will work better across the pond.
Title: Re: NSR: $1.03 to the £ ?!!
Post by: randyo on September 27, 2022, 08:40:47 PM
Quote from: Mancashire on September 27, 2022, 05:47:57 PM
The US has tried the tinkle down economic theory and it hasn’t really worked. Hopefully it will work better across the pond.

depends on what occupational industry you are in, as a Land Surveyor in the AEC industry, I found that trickle down worked very well, any retirement savings I have, that is where it came from
Title: Re: NSR: $1.03 to the £ ?!!
Post by: Neil955i on September 28, 2022, 12:23:42 PM
https://www.bbc.co.uk/news/live/uk-politics-63056188

Summary

  o  The Bank of England announces it will step in to calm markets after the government's tax-cutting plans causes the pound to slide
  o  The Bank said it would buy government bonds on a temporary basis to help "restore orderly market conditions"
  o  The pound tumbled to $1.0560 after the news, down 1.6% against the dollar
  o  It comes as financial leaders react to the International Monetary Fund's criticism of the UK's tax-cut plan
  o  The IMF says the £45bn proposal will "likely increase inequality" and suggests a fiscal statement in November could be a chance to "re-evaluate" the changes

Seems the "grown ups" are at loggerheads over this and the poor bl**dy infantry aka the working class are left wondering how to make ends meet.  Reminds me of the old Music Hall song: 

https://www.youtube.com/watch?v=KSk-VKOTgQY